Hoya and Pentax to merge

Hoya, a very familiar name in the photographic industry (not least because they supply lens blanks to many manufacaturers) and Pentax have jointly today announced their intention to merge and become Hoya Pentax HD Corporation (actually Hoya are ‘merging’ Pentax into their business). This merger is due to be completed by October 1, 2007. Once complete Fumio Urano (current PENTAX President & CEO) will become Chairman of the Board and Hiroshi Suzuki (current HOYA President and CEO) will become President & CEO. The major conclusions in this announcement are that the Pentax name will remain, that Pentax’s optical business will merge with Hoya’s but that Pentax’s current imaging systems division (that which is responsible for digital cameras) will continue.